Green’s Dictionary of Slang

1. (Aus.) a pimp, one who lives off a prostitute [hoon n. (1)].

1971		J. McNeil Chocolate Frog 48: An’ you call yourself a crim...pigs! The right name is egg-and-spoon, ain’t it, Shirk? Yer a terry-toon, a blue-moon...anythin’ that rhymes with weak-bludger-hoon!
1983		R. Aven-Bray Ridgey-Didge Oz Jack Lang 47: Terry Toon (Hoon) Bludger off prostitutes.
1990		Tupper & Wortley Aus. Prison Sl. Gloss. 🌐 Terrytoon. 1. Rhyming slang for ‘hoon.’ Terrytoon is a cartoon series and so the term also has a debunking function.

2. (Aus. prison) a derog. term for a black person [coon n. (4)].

1990

Tupper & Wortley Aus. Prison Sl. Gloss. 🌐 Terrytoon. 2. Rhyming slang for coon (derogatory term for a coloured person).